US Codex
Bill
Notes

H.R. 3326 — what changed

World Bank Accountability Act of 2017

From Introduced in House to Reported in House. 2 sections amended and 1 added between Introduced in House and Reported in House.

Sec. 2 Withholding of funds until certain conditions are met

(a)
Institutional reforms—
(1)
In general— With respect to each of fiscal years 2018 through 2023, in addition to any amounts withheld from disbursement under subsection (b), 15 percent of the amounts provided in appropriations Acts for the International Development Association for the fiscal year—
(A)
shall be withheld from disbursement until the conditions of paragraph (2) or (3) are satisfied; and
(B)
(i)
changed shall be disbursed after, after the conditions of paragraph (2) are satisfied; and
(ii)
changed may be disbursed after, after the conditions of paragraph (3) are satisfied.satisfied
(2)
Initial conditions— The conditions of this paragraph are satisfied with respect to the amounts provided in appropriations Acts for a fiscal year if, in the fiscal year, the Secretary of the Treasury reports to the appropriate congressional committees that the International Bank for Reconstruction and Development—
(A)
is implementing institutional incentives, including through formal staff evaluation criteria, that prioritize poverty reduction, development outcomes, and capable project management over the volume of the Bank’s lending and grantmaking;
(B)
changed is taking, or has completed, taking steps to address the management failures described in Inspection Panel Investigation Report 106710–UG, and to prevent their recurrence in countries that are eligible for World Bank support; and
(C)
is taking measures to strengthen its management of trust funds, with the goal of increasing the accountability of the trust funds for poverty reduction and development outcomes.
(3)
Subsequent conditions— The conditions of this paragraph are satisfied if the Secretary of the Treasury reports to the appropriate congressional committees, in each of the 3 fiscal years most recently preceding the fiscal year in which the report is made, that the International Bank for Reconstruction and Development has instituted the measures described in paragraph (2) of this subsection and the measures described in subsection (b)(2).
(b)
Governance and anticorruption reforms—
(1)
In general— With respect to each of fiscal years 2018 through 2023, in addition to any amounts withheld from disbursement under subsection (a), 15 percent of the amounts provided in appropriations Acts for the International Development Association for the fiscal year—
(A)
shall be withheld from disbursement until the conditions of paragraph (2) or (3) are satisfied; and
(B)
(i)
changed shall be disbursed after, after the conditions of paragraph (2) are satisfied; and
(ii)
changed may be disbursed after, after the conditions of paragraph (3) are satisfied.satisfied
(2)
Initial conditions— The conditions of this paragraph are satisfied with respect to the amounts provided in appropriations Acts for a fiscal year if, in the fiscal year, the Secretary of the Treasury reports to the appropriate congressional committees that the International Bank for Reconstruction and Development—
(A)
is emphasizing in appropriate operational policies, directives, and country strategies its support for secure property rights, due process of law, and economic freedom as essential conditions for sustained poverty reduction in World Bank borrowing countries;
(B)
(i)
changed in the preceding fiscal year, has not approved any loans or grants assistance by the Bank to a country designated by the United States as a state sponsor of terrorism in the preceding fiscal year; terrorism; and
(ii)
is strengthening the ability of Bank-funded projects to undermine violent extremism;
(C)
changed is taking steps to conduct randomized forensic audits of projects receiving assistance from the Bank, increase the number of the forensic audits, and strengthen the capacity of the Bank’s Integrity Vice Presidency; Presidency, and that not less than 50 percent of the forensic audits initiated by the Bank in each fiscal year are of projects randomly selected from among International Development Association borrowing countries; and
(D)
is taking measures to detect and minimize corruption in all World Bank projects involving development policy lending.
(3)
Subsequent conditions— The conditions of this paragraph are satisfied if the Secretary of the Treasury reports to the appropriate congressional committees, in each of the 3 fiscal years most recently preceding the fiscal year in which the report is made that the International Bank for Reconstruction and Development has instituted the measures described in paragraph (2) of this subsection and the measures described in subsection (a)(2).
(c)
changed Appropriate congressional committees defined— In this section, the term appropriate congressional committees means the Committees on Financial Services and on Appropriations of the House of Representatives and the Committees on Foreign Relations and on Appropriations of the Senate.

Sec. 4 Opposition to World Bank assistance for government that fails to implement or enforce measures required under an applicable United Nations Security Council resolution

changed The International Development Association Bretton Woods Agreements Act (22 U.S.C. 284 286 et seq.) is amended by adding at the end the following:

changed “30. Eighteenth Replenishment“73. Opposition to assistance for government that fails to implement or enforce measures required under an applicable United Nations Security Council resolution

changed “(a) Contribution authority—The “The Secretary of the Treasury should instruct the United States Governor of Executive Director at the International Bank for Reconstruction and Development Association may contribute on behalf to use the voice and vote of the United States $3,291,030,000 to oppose the eighteenth replenishment provision of assistance to the resources government of a borrowing country of the Association, subject International Development Association if the President of the United States determines that the government has knowingly failed to obtaining implement or enforce sanctions required under an applicable United Nations Security Council resolution (as defined in section 3 of the necessary appropriations.North Korea Sanctions and Policy Enhancement Act of 2016 (Public Law 114–122; 22 U.S.C. 9202)) that is in effect.”

removed “(b) Limitations on authorization of appropriations—In order to pay for the contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $3,291,030,000 for payment by the Secretary of the Treasury.”

Sec. 5 Eighteenth replenishment of the International Development Association; reduction from IDA-17 authorized level

added

added The International Development Association Act (22 U.S.C. 284 et seq.) is amended by adding at the end the following:

added “30. Eighteenth Replenishment

added “(a) Contribution authority—The United States Governor of the International Development Association may contribute on behalf of the United States $3,291,030,000 to the eighteenth replenishment of the resources of the Association, subject to obtaining the necessary appropriations.

added “(b) Limitations on authorization of appropriations—In order to pay for the contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $3,291,030,000 for payment by the Secretary of the Treasury.”